Sri Lanka-Russia Business Council explores export opportunities to Russia
The Morning: The Sri Lanka-Russia Business Council (SLRBC) of The Ceylon Chamber of Commerce held its 22nd Annual General Meeting at the Cinnamon Grand Colombo – Oak Room, with the presence of senior government officials, business leaders, diplomatic representatives, and members of the Council.
The meeting was attended by the Russian Federation to Sri Lanka Ambassador Levan Dzhagaryan as Chief Guest and Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe as Guest Speaker.
Ambassador Dzhagaryan addressed the Council for its continued efforts to strengthen bilateral trade and cultural ties. He acknowledged the challenges posed by global sanctions on Russia but reaffirmed Russia’s commitment to maintaining strong relations with Sri Lanka. Highlighting growing cultural engagement and people-to-people links, he noted the continued interest of Russian tourists and the importance of improving connectivity between the two countries.
The outgoing President Jude Fernando, reflected on a year marked by progress and engagement between Sri Lanka and the Russian Federation. He highlighted the Council’s initiatives, including the successful Members’ Night, the continuation of the Russia Multiple Business Visa facilitation programme, a webinar on strengthening bilateral trade, and the publication of a Russia National Day supplement in leading newspapers.
Fernando noted that governance reforms undertaken this year would support long-term sustainability and increased transparency within the Council. He also congratulated Dr. Saman Weerasinghe on receiving the ‘Order of Friendship’ from the President of the Russian Federation.
The newly appointed President Chamath Hettiarachchi, highlighted the opportunities for Sri Lankan exporters particularly in tea, rubber, spices, and fisheries as well as prospects in technology transfer, renewable energy, logistics, and education. He mentioned the Council’s renewed focus on addressing trade settlement challenges, expanding SME participation in the Russian market, and enhancing tourism promotion, noting that Russia continues to remain among Sri Lanka’s inbound tourist markets.
OSL take:
Sri Lanka and Russia enjoy strong bilateral and trade ties. Russia is one of the main purchases of Sri Lankan tea as well. The two countries are continuing to work on further strengthening trade and business ties between Sri Lanka and Russia. With Sri Lanka’s exports industry on a steady growth path supported by Sri Lanka’s strong trade ties with many foreign countries, the industry looking at more export opportunities to Russia indicate a growth in business/investment opportunities in the country’s continuously expanding export industry. Foreign businesses/investors exploring business/investment opportunities in Sri Lanka’s exports industry are guaranteed lucrative business ventures while the evolving global marketplace has opened opportunities for the further diversification of Sri Lanka’s existing export product portfolio. It is in this backdrop that Sri Lanka’s exports sector opens more opportunities for Sri Lanka’s exporters to present new products to the Russian markets. While foreign businesses/investors explore the expanding business/investment opportunities in Sri Lanka’s exports industry and related sectors, those who want to trade with Russia could also look at setting up bases in Sri Lanka to engage with Russia using the preferential treatment enjoyed by Sri Lanka with Russia.
| Article Code : | VBS/AT/20251211/Z_2 |